Thu, Jul 28, 2016
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Industry Updates

Fund administrator GlobeOp reaches new AuA high of $170bn, an increase of 42% in past 12 months

Wednesday, August 03, 2011

Hans Hufschmid
Opalesque Industry Update - Today, independent fund administrator, GlobeOp announced its interim results for the six months ended 30 June 2011.

GlobeOp made strong progress in the first half of this year, reaching a new AuA high of $170 billion – an increase of 42% in the past 12 months. Its revenues, adjusted operating profit, net income and cash continued to grow and all have reached record levels; and middle-, back-office and fund administration (MBA) revenue and risk reporting revenue each grew 23% over the prior year period.

You can read the full results here: Interim results for the six months ended June 2011

Highlights of the first half results include:

• Assets under Administration (AuA) increased 14% in the first half of 2011 to $170 billion as at 30 June 2011 - an increase of 42% in the past 12 months
• 23% growth in revenues to $110.4 million
• 28% increase in adjusted operating profit to $32.4 million
• Adjusted operating profit margin expanded to 29.4% of revenues versus 28.4% in first half 2010
• Cash of $87.8 million as at 30 June 2011 compared to $60.2 million as at 30 June 2010
• 100% increase in interim dividend to 2.00 pence per share versus 2010 interim dividend

Hans Hufschmid, chief executive officer, said: “GlobeOp performed well during the first half of the year. Revenues grew 23% and adjusted operating profit increased 28% compared to the first half of 2010. We added new clients, particularly in the second quarter, and our new business pipeline is building. We have continued to invest in our capabilities and enhanced our marketing efforts while expanding profit margins and generating strong cash flows. We see an array of growth opportunities for GlobeOp and believe recent global volatility will create opportunities for fund managers over time. We remain optimistic about our business and look forward to the second half of 2011.”

(press release)


GlobeOp Financial Services (LSE: GO) is an independent financial administrator specialising in middle and back office services and integrated risk reporting to hedge funds, asset management firms and other sectors of the financial industry – including family wealth, banks, insurance companies, pension funds and corporate treasuries. By outsourcing to GlobeOp, clients can reduce their technology investments and operational risks, while increasing their focus on asset generation and portfolio management. Established in 2000, GlobeOp serves over 200 clients worldwide, representing $170 billion in assets under administration. Headquartered in London and New York, GlobeOp employs approximately 2,000 people on three continents through its 10 offices in the Cayman Islands, India, Ireland, the UK and US. www.globeop.com


Bg

What do you think?

   Use "anonymous" as my name    |   Alert me via email on new comments   |   
Today's Exclusives Today's Other Voices More Exclusives
Previous Opalesque Exclusives                                  
More Other Voices
Previous Other Voices                                               
Access Alternative Market Briefing

 



  • Top Forwarded
  • Top Tracked
  • Top Searched
  1. Opalesque Exclusive: California-based manager launches long/short equity hedge fund with unique algorithm[more]

    Benedicte Gravrand, Opalesque London for New Managers: SJL Capital LLC, an investment advisory firm based in California, has launched its maiden fund, the SJL MarketDNA Hedge Fund LP. The fund, which began trading

  2. Manny Roman to move from Man to Pimco[more]

    Benedicte Gravrand, Opalesque London: Emmanuel (Manny) Roman, an investment world veteran, has been hired by PIMCO, the large US bond fund house, as chief executive officer. PIMCO's current CEO Douglas Hodge will assume a new role as managing director and senior advisor when Roman joins P

  3. HFR: Hedge funds post strong gains in mid-July as markets recover from Brexit losses[more]

    Komfie Manalo, Opalesque Asia: Hedge funds posted strong gains through mid-July as the equity markets continued the recovery from Brexit losses. The HFRX Market Directional Index gained +2.17% (+4.22% YTD) and the HFRX Global Hedge Fund Index gained +1.03% through mid-month (+0.19%

  4. News Briefs - Carlyle goes on trial for a financial-crisis meltdown, Private equity and venture capital outperformed public markets in 2015, Pippa Middleton gets engaged to hedge fund manager James Matthews[more]

    Carlyle goes on trial for a financial-crisis meltdown Carlyle Group co-founder Bill Conway was in court on this small island last week recounting one of the most bruising episodes in his private-equity firm’s history: the 2008 collapse of mortgage-bond fund Carlyle Capital Corp. Carlyle

  5. …And Finally - Two men fall off cliff playing Pokemon Go[more]

    From BizarreNews.com: Two men who fell from a seaside cliff north of San Diego told authorities they became distracted while playing augmented reality game Pokemon Go. Encinitas fire Battalion Chief Robbie Ford said one of the men fell about 50 feet down the bluff in Encinitas while the other man fe